Page 215 - SAMRC Annual Report 2024-2025

GOVERNANCE

SAMRC’s philosophy to ERM entails the proactive the risks in their respective area. Mitigations are
management and mitigation of risks and the identified against each risk, and the remaining
exploitation of any related opportunities under residual risk is assessed according to defined criteria.
the guidance of the SAMRC Board, President and
Executive Management. Risks and opportunities are identified throughout the
year through regular interaction with the business
The SAMRC’s risk management policies are and assessed on the likelihood of occurrence and
established to identify and analyse the risks faced the potential impact on the SAMRC (risk exposure).
by the SAMRC, to set appropriate mitigating
strategies, and to monitor risks and adherence The risks with the highest exposure are presented
to the strategies. Risk management policies and to the ARIC for review. The outcome of the review is
systems are reviewed annually to reflect changes in submitted to the Board for challenge and approval.
industry practices and the SAMRC’s activities. The Risk dashboards are utilized to report quarterly to
ARIC reviews the ERM framework and the related the Executive Management Committee and ARIC
policies and processes regularly. on the status of implementation of the organisation’s
risk management plan. These quarterly reports form
Risks & opportunities the basis of the ongoing communication of new and
emerging significant risks and opportunities and
The Board adopts a balanced approach to risk,
without inhibiting or unduly restricting the SAMRC’s the monitoring on the status of implementation on
ability to deploy and capitalise on risk-adjusted management mitigation strategies Further support
opportunities. The Board and President utilise the is provided by internal audit in the form of assurance
Executive Management Committee and senior on the effectiveness of control procedures in place
management to manage the respective components to reduce the possibility and outcome of the known
of risk. risks.

The SAMRC’s significant risks and opportunities Related risks, opportunities and issues are
are determined through a strategic risk review aggregated and grouped to determine the significant
process where the SAMRC Executive Management risk category/context and are depicted below in
and Board assesses its impact on the achievement the heat map, rated in respect of inherent impact
of the strategic objectives. Where appropriate, and likelihood. Selected significant business risks
further mitigating strategies to further improve the and opportunities (grouped by strategic priorities),
management of these risks have been developed together with key mitigating measures, aligned to
and being implemented. Each business area is the strategic objectives are also explained in more
responsible for identifying, assessing and managing detail below.

Our risks and opportunities People Managment
POPIA
Catastrophic Transformation
Further development
6 1 and commercialisation
Critical 5 8 7 2 3 of (a) SAMRC-owned
and (b) SAMRC-
Inherent impact Serious 9 4 Limited research
funded innovations
capacity in scarce skills

effective and efficient
Significant Inability to maintain an
supply chain
Data management
Minor
Maintaining
research integrity
Rare Unlikely Possible LIkely Almost
certain Ensuring
Inherent Likelyhood knowledge translation

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